Simmons & Simmons has missed its budget for the first half of the year, despite seeing its turnover increase by 5.5 per cent over the six months.
The firm expected to see its turnover increase by 7 per cent in comparison to the first half of 2007-08, but undershot the target by 1.5 percentage points.
Simmons & Simmons managing partner Mark Dawkins said that the firm's offices in Europe, the Middle East and China performed well, and that the M&A and finance practices remained strong in the downturn.
He added: "The second half is going to be tough but we feel reasonably well placed."
Transactions for the firm include roles advising the Ministry of Defence on a £635m flight training contract and a £13bn deal to replace its air-to-air refuelling fleet.
The past six months have been mixed for law firms. Eversheds has reported revenues sitting 4 per cent down at the half-year stage (TheLawyer.com, 4 November), while Trowers & Hamlins boosted turnover by 16 per cent (TheLawyer.com, 4 November).